The British pound continues to press to the upside against the US dollar currency, with the pair now trading at a fresh multi-month high. Bears need a higher time frame price close under the 1.2785 support level to encourage GBPUSD technical selling. Traders should note that the GBPUSD pair has strong monthly technical resistance around the 1.2830 and the 1.2840 area.
If the GBPUSD pair trades above the 1.2785 level, key resistance is found at the 1.2840 and 1.2880 levels.
The GBPUSD pair is only bearish while trading below the 1.2785 level, key support is found at the 1.2740 and 1.2715 levels.
